Is it time to end GDP as we know it?

Michal Kalecki, the Polish economist, is said to have described economics as “the science of confusing stocks with flows”. Investors scrutinise a company’s balance sheet as well as its profits and losses. Yet, when it comes to sizing up a nation, we are mostly stuck with GDP, which counts the value of goods and services produced in a given period.

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Ismail Ali Manik

Ismail Ali Manik

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Uni. of Adelaide & Columbia Uni NY alum; World Bank, PFM, Global Development, Public Policy, Education, Economics, book-reviews, MindMaps, @iamaniku